2. What We Are: The LifeDAO Association Explained

What is The LifeDAO Association?

The LifeDAO Association is a non-profit membership organization where members join together to protect and grow their wealth collectively. The Association is organized as a Decentralized Autonomous Organization (DAO) which members collectively own and govern. The Association is organized on the Arbitrum Layer 2 blockchain which allows the Association to control operations and execute on governance using decentralized smart contracts.

In other words, the Association is a group of people from all over the world pooling their financial resources together to protect and grow their wealth collectively. Instead of the Association being tied to a single geography or governmental jurisdiction, it is global and lives on the blockchain. Association bylaws are enforced by smart contracts that are not controlled by any one entity or person, but rather by the group collectively.

Members demonstrate ownership by holding membership credits and exercise governance by making proposals and voting.

Core Beliefs of The LifeDAO

• By maximizing the benefit to the community, The LifeDAO will maximize the benefit to the individual in the long term.

• Shariah-compliant financial systems, which shun interest in favor of profit sharing and risk sharing, provide better outcomes for communities and therefore individuals.

• Current financial systems benefit the few over the many and exclude a large proportion of the global population.

• Blockchain technology can enhance transparency and can distribute ownership and should be the foundation for new financial paradigms.